Jason Fried

Jason Fried quotes on money management

Founder & CEO at Basecamp. Non-serial entrepreneur. Co-author of Getting Real, REWORK, Remote, and “It Doesn’t Have to Be Crazy at Work”.

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I’ve never used the term “burn rate” in our business. Terrible phrase. They’re called “costs”. Beware fancy financial terms, they’re commonly used to create unhealthy abstractions. Further, you don’t burn money - you spend money, you pay rent, you invest in people, etc.


Profit proves a business works. It’s the light you see when battery + wire + bulb connect. Revenue is disconnected bulb.


Why do VC-backed companies seem to spend so much money? 1. They’re forced to. 2. The easiest money to spend is other people’s money.


Surprised how many business people (on Twitter) don’t get this… Your product is *not* a fit in the market unless it’s profitable.


You can go broke generating revenue. You can’t go broke generating profit.


“Pre-Revenue” isn’t a thing, it’s a bullshit mask over a starker, more honest reality: “No customers, no sales.” No customers and no sales is fine - every business starts there - but don’t dress it up and act like it’s something. It’s actually nothing, and that’s the point.


“We could be profitable if we wanted to be.” I double dog dare you.


Launching something is not what makes something a fit. Finding a few users is not a fit either. Profitability is a fit.


“Runway”, “Accelerator”, “Burn rate”… What’s with the obsession with BURNING in the startup world? How about earning instead?


A product isn’t viable unless it’s profitable (or unless it’s subsidized by other profitable products).


Look… Without a profitable business, your business goes away when *someone else* says it does. When it’s profitable, you have the say.


Existing in the market doesn’t make it a fit, it makes it a temporary float. Gravity always wins. If its can’t feed itself, it’s not a fit.


Why profit? Same reason you should put some money in your pocket if you’re ahead in Vegas. If you give it all back you’re an idiot.

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